PureCycle Technologies, Inc. (NASDAQ:PCT) Shares Sold by First National Advisers LLC

First National Advisers LLC reduced its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT - Free Report) by 14.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 278,584 shares of the company's stock after selling 48,932 shares during the quarter. First National Advisers LLC owned approximately 0.16% of PureCycle Technologies worth $2,856,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PCT. Highview Capital Management LLC DE acquired a new position in shares of PureCycle Technologies in the 4th quarter valued at $324,000. Sylebra Capital LLC boosted its holdings in PureCycle Technologies by 14.6% in the third quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company's stock valued at $317,848,000 after acquiring an additional 4,264,393 shares during the last quarter. IHT Wealth Management LLC acquired a new position in PureCycle Technologies in the third quarter valued at $485,000. Drive Wealth Management LLC grew its position in PureCycle Technologies by 767.7% during the fourth quarter. Drive Wealth Management LLC now owns 308,027 shares of the company's stock valued at $3,157,000 after acquiring an additional 272,527 shares during the period. Finally, Sanctuary Advisors LLC raised its holdings in shares of PureCycle Technologies by 77.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 206,339 shares of the company's stock worth $1,960,000 after purchasing an additional 89,875 shares during the period. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, TD Cowen boosted their target price on PureCycle Technologies from $10.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th.

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Insider Activity

In other PureCycle Technologies news, major shareholder Sylebra Capital Llc bought 619,925 shares of the stock in a transaction dated Thursday, February 6th. The stock was bought at an average cost of $8.06 per share, for a total transaction of $4,996,595.50. Following the completion of the purchase, the insider now directly owns 34,077,574 shares of the company's stock, valued at approximately $274,665,246.44. The trade was a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 11.44% of the company's stock.

PureCycle Technologies Stock Down 4.7 %

NASDAQ PCT traded down $0.38 during trading hours on Thursday, hitting $7.63. The company had a trading volume of 1,825,265 shares, compared to its average volume of 2,205,172. The firm's 50 day moving average is $9.12 and its 200 day moving average is $10.12. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -5.09 and a beta of 1.55. PureCycle Technologies, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $15.58. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.74 and a quick ratio of 1.63.

PureCycle Technologies (NASDAQ:PCT - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.32). Sell-side analysts anticipate that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

PureCycle Technologies Profile

PureCycle Technologies, Inc engages in the production of recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled polypropylene resin that has multiple applications, including packaging and labeling for consumer products, piping, ropes, cabling, and plastic parts for various industries.